SEBI proposes norms to regulate real estate trusts

MUMBAI: The Securities and Exchange Board of India (SEBI) on Friday proposed guidelines to regulate fund raising activities by Real Estate Investment Trusts (REITs).

According to the draft regulations, REITs and real investment management companies will require mandatory registration with SEBI. The regulator has invited public comments on the draft by January 10.

Under the proposed guidelines, REITs will not be allowed to launch any investment scheme without obtaining a rating from a credit rating agency and getting the scheme approved by an appraising agency.

Indian realty sector attracts deluge of funds

Amidst all the worries about a property bubble in the US, the Indian realty sector continues to witness a deluge of funds, not only from private equity investors but also from builders seeking a toehold in this market.

Twenty-one private equity deals worth $1,292 million were struck in the realty sector in the six months between April and September 2007. This is a substantial increase over eight deals worth $282 million inked in the same period last year, according to Real Estate Intelligence – a research and consulting firm.

IL&FS raises $ 578 million real estate fund

Mumbai (PTI): IL&FS Investment Advisors on Wednesday said it has raised USD 578 million through its second real estate fund and targets to close the fund at USD 750 million.

IL&FS India realty Fund-II will invest in an entire gamut of real estate spaces across tier-I and tier-II cities, a press release issued here on Wednesday said.

IL&FS Investment Advisors is a wholly-owned subsidiary of IL&FS Investment Managers Limited (IIML).

How to Play India's Real Estate Boom

Jay Somaney's three-part series on the growth of the Indian real estate market and how to invest in it was originally published on RealMoney in November 2007. It's being republished as a bonus for TheStreet.com readers.

In "How to Play India's Housing Boom," Somaney explains that the bull case for India's residential real estate market rests on a growing population and he presents his favorite residential company in India.

American investors high on Indian real estate

NEW DELHI: The sub-prime crisis has not had any negative impact on the Indian property market. On the contrary, analysts say, that an increased number of American investors are now looking at the Indian property market as a safer investment bet.

“The region is enjoying sound property market fundamentals. To date, the credit crunch has not significantly impacted the markets here. Liquidity levels are still high, and both local and foreign investors have maintained their allocations to real estate,” says a report by real estate consultant Jones Lang La Salle Meghraj